Rise Advisors LLC Has $29,000 Stock Holdings in Devon Energy Corporation $DVN

Rise Advisors LLC cut its holdings in Devon Energy Corporation (NYSE:DVN) by 30.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 896 shares of the energy company’s stock after selling 386 shares during the quarter. Rise Advisors LLC’s holdings in Devon Energy were worth $29,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Martin Capital Partners LLC grew its position in shares of Devon Energy by 221.3% in the 2nd quarter. Martin Capital Partners LLC now owns 68,683 shares of the energy company’s stock valued at $2,185,000 after purchasing an additional 47,304 shares during the period. OMNI 360 Wealth Inc. acquired a new position in Devon Energy during the 2nd quarter worth approximately $262,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Devon Energy by 24.2% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,483 shares of the energy company’s stock worth $111,000 after acquiring an additional 679 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in Devon Energy during the 2nd quarter worth approximately $247,000. Finally, Lynx Investment Advisory acquired a new position in Devon Energy during the 1st quarter worth approximately $549,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares in the company, valued at $1,064,061.46. This trade represents a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Devon Energy Stock Down 1.4%

DVN stock opened at $34.81 on Monday. The stock has a market capitalization of $22.10 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 2.00 and a beta of 1.09. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $43.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. The business’s fifty day moving average price is $33.91 and its two-hundred day moving average price is $33.12.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.Devon Energy’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. On average, equities analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is 21.52%.

Wall Street Analyst Weigh In

DVN has been the subject of a number of recent research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 price target (up previously from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. Bernstein Bank reduced their price target on Devon Energy from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Monday, July 7th. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a research report on Friday, July 11th. BMO Capital Markets upped their price target on Devon Energy from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. Finally, Barclays upped their price target on Devon Energy from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Sixteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.15.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.